Alachua, Fla.-based RTI Surgical President and CEO Brian Hutchinson discussed the company's fourth quarter financial results in 2015, according to Seeking Alpha.
Here are seven highlights:
1. RTI Surgical had fourth quarter revenues of $76.1 million, which was a 7 percent increase over the same period in 2014.
2. In 2015, the company had revenues of $282.3 million, which was a 7 percent increase over 2014 revenues.
3. Mr. Hutchinson reported the company's spine revenue decreased 7 percent in 2015, from 2014. He attributed this decrease to fewer orders from large customers.
4. In the United States, direct spine hardware experienced a 25 percent sequential increase in average daily revenue in the fourth quarter, compared to the third quarter.
5. RTI Surgical plans to expand its spine distribution team in 2016.
6. Mr. Hutchinson reported a trend toward lower priced grafts in the sports biologics sector.
7. The company's general orthopedic revenues increased 15 percent in 2015, compared to 2014. He attributed the growth to the company's map3 Cellular Allogeneic Bone Grafts and nanOss Advanced Bone Graft Substitutes.